Tencent has more than 700 investments across the world

Tencent’s $150 million investment into Reddit was a big deal for the San Francisco-based online message board. But for the Chinese technology company, it was just one of more than 700 investments across the world. The Chinese company has board seats on more than 400 of those companies… with 30 per cent to 40 per cent of its investments outside China. Its investment portfolio is roughly twice as big as its main Chinese rival Alibaba and dwarfs those of US peers such as Facebook and Google and Tencent has no intention of slowing down, even after a record deal spree in 2018… Tencent’s investment drive is underpinned by a number of factors… from building out the company’s social media and payment platforms, to global expansion… Rather than wholesale acquisitions, Tencent prefers to buy minority stakes in companies whose products can bolt on to its WeChat and WeChat Pay platforms… Targets are often receptive: Tencent offers them the chance to reach more than a billion users. To achieve scale, they need either the Shenzhen-based company or its eastern Chinese rival Alibaba… Overseas, Tencent has taken high-profile stakes in Tesla, the social media app Snap, the Finnish mobile games maker Supercell, the Indian ride-sharing app Ola, and Epic Games, the developer of Fortnite.
Louise Lucas